The New CS Board

[jumanji0881]

Investing in stocks, bitcoin is 'very dangerous,' gold is the place to be, says veteran investor
: https://www.kitco.com/news/2021-07-19/Investing-in-stocks-bitcoin-is-very-dangerous-gold-is-the-place-to-be-says-veteran-investor.html

Excerpts:
Tice is known for his bearish Wall Street calls, and now he is saying that a market crash is coming. He is particularly concerned about the tech sector.

"A lot of money has been thrown at Alphabet and Microsoft, Apple and Facebook, Twitter, etc.," he said on Friday. "Costs are going up in that sector."

The volatile crypto space is another danger zone right now, Tice warned.

"We had a bitcoin position when bitcoin was at $10,000," he said. "However, when it got to $60,000, we felt like that was long in the tooth... Lately, there's been a lot more uproar from central bankers, Bank for International Settlements [and] the Bank of England have made profound negative statements. I think it's very dangerous to hold today."

It is not all doom and gloom for Tice, who sees a once-in-a-decade investment opportunity in the precious metal mining space.

"You look at this lack of discipline in monetary and fiscal markets. Gold is truly the place to be. Over 5,000 years, gold and silver do very well as protection against fiat money," Tice said. "I would be owning gold, especially gold and silver mining companies. These companies have never been cheaper. Many are at single digit multiples yet have potentially 15 to 20% growth rate in earnings even with this flat gold price."

Tice is projecting for gold to climb to $2,000 an ounce by the year-end. "[When you] add on what we think is going to be a 20% annual increase in the gold price. These companies are going to be outstanding opportunities," he added.